Note: The article was published on Dec 7, 2021. The opinion is almost the same. I didn’t change things much but highlighted points where I was wrong or right.
The surprising thing is that many things came true about the Bitcoin market crash. A few things didn’t. For instance, it was the crash, not the dip. I have realized that I can’t be an expert in this field; I don’t write about the Bitcoin market anymore. But I have plans to keep my crypto investments for years, if not decades.
A couple of days ago, I was finding the best support levels and resistances for day trading.
I found some of the best support levels. I researched $BAT, $Doge, $ADA, and many others.
The best support levels were almost 50% down, and Bitcoin was $57K.
I thought that Bitcoin would go back and reach $89K, and then we would see a massive fud before the next strongest bull run.
I was wrong.
The next day, I found that Bitcoin started dropping, and most of the ALTcoins that I researched started touching Bottoms I had seen earlier.
That means they started completing the patterns required for a strong bull run.
So what does it mean?
As I had tweeted earlier, when $Doge was at 22c, if it came close or below 10c, traders follow patterns. Why $Doge? Because of Elon Musk, Dogecoin has the most robust support from its community.
So it did.
It touched 13c.
It was so close.
When I found that many of the analyzed coins had completed the patterns, I started looking for others.
Many coins have started completing their cycles.
On this analysis, I believe that a strong Bull run is coming where we will see 5x to 25x on average growth of each coin from here.
Keep in mind that it’s my opinion, and I am simply following it. You should not invest money until you see a big reveal on the monthly candles chart.
I have invested all of the investments that I have had so far, but I have invested what I can compromise on.
The reason is that I expect the next six months should be super bullish before the next big crash. Bitcoin should touch 105K to 109K when I sell to buy the dip after a while. (H was wrong; we were already in the bear market. Bitcoin dropped below $20K. The crash cycle seems to be complete at around $18K, and it has already touched. Nowadays, it’s moving sideways.)
If this comes true, you should still start selling at the top when everyone is crazy about buying. So here is the simple formula I will use when I start selling.
Check what’s ATH of any coin (if it is strong and never involved in rug pull).
2x from earlier ATH, you should start selling some percentage once it reaches.
I firmly believe that all the coins will come back below that point. (As bitcoin has come back to touch $18,000, that’s the last All Time High (ATH) point.) to complete the pattern for the next crash.
After all this debate, I still recommend doing your own research. I just thought to speak my mind that it’s the dip that we had waited for long, and it’s going to get a huge reversal that we have been expecting for months.
Disclaimer: I am not your financial advisor. The piece is shared for informational purposes only.